Vidya Wires IPO: Check IPO Date, Lot Size, Price & Details

Introduction:

Vidya Wires Limited is a leading manufacturer of winding and conductivity products, supplying to critical applications across power generation & transmission, electrical systems, motors, transformers, renewables, EVs, and railways. The company manufactures a diversified range of over 8,000 SKUs (FY25) including Enameled Copper Winding Wires, Enameled Copper Rectangular Strips, Paper Insulated Copper Conductors, Copper Busbars, Bare Copper Conductors, PV Ribbon, Aluminium Paper-Covered Strips, among others

Vidya Wires is the 4th largest player in India with a 5.7% market share of installed capacity in FY25. Its current consolidated manufacturing capacity stands at 19,680 MTPA, supported by two facilities in Gujarat. The company is now expanding capacity by 18,000 MTPA through a new plant under its subsidiary ALCU Industries, taking the total to 37,680 MTPA (Q3 FY26 commissioning)

The company has achieved strong operational efficiencies with capacity utilisation rising from 70.31% in FY23 to 94.51% in Q1 FY26, and production volumes increasing from 13,415 MT in FY23 to 17,338 MT in FY25

Vidya Wires serves 318–472 customers annually, with no single customer contributing over 9% of revenues. It exports to more than 18 countries including the USA, Canada, Europe, Middle East, and Southeast Asia, backed by UL approval for magnet wire exports to the US. Its strategic location in Anand, Gujarat offers logistical advantages via ports such as Hazira and Mundra for raw material imports and exports

The company has also implemented backward integration to produce up to 35–40% of its copper rod requirements in-house, and sources 25%+ of power from renewable energy (solar + wind) with ISO 9001, 45001 and 14001 certified facilities

IPO Details:

Objectives of Issue:

• Repayment/Prepayment of Borrowings
• Funding Working Capital Requirements
• General Corporate Purpose

Key Strengths:

• Diversified Product Portfolio with Wide End-User Applications – Vidya Wires manufactures over 8,000 SKUs across enameled wires, insulated copper conductors, copper busbars, PV ribbons, and multiple aluminium-based products. These products cater to a broad set of industries including power, automotive, transformers, motors, consumer durables, industrial electronics, renewable energy, and EVs. Such diversification significantly reduces dependence on any single product or sector. The company’s ability to offer varied thicknesses (0.07 mm–25 mm) and customisations enhances customer stickiness and widens its addressable market. This diversified portfolio also acts as a natural hedge during downturns in any single industry segment
• Strong Capacity Base with Near-Doubling Through Ongoing Expansion - The company is currently the fourth largest in the industry with 19,680 MTPA installed capacity and has operated at utilisation levels exceeding 94% in Q1 FY26. The ongoing expansion via the Narsanda plant will increase total capacity to 37,680 MTPA, positioning Vidya Wires among the top three capacity holders nationally. The new facility will also help diversify into CTC conductors, copper foils, solar cables, PV round ribbon, and aluminium enameled wires, enabling deeper penetration into the EV, renewables, and power infrastructure markets. This expansion is expected to drive scalability, margin improvement, and market share gains
• Broad and De-risked Customer Base with Global Reach - Vidya Wires has consistently served 300–470+ customers annually, with exports to more than 18 countries across five continents. No customer contributes more than 9% of total revenues, resulting in significantly low client concentration risk. The company is a UL-approved exporter to the United States and a pre-approved supplier to Power Grid Corporation of India, enhancing credibility and recurring opportunities. Its location near major ports improves logistics efficiency and export competitiveness. The diversified geographic presence and multi-industry client portfolio help maintain revenue stability even during regional or sector-specific slowdowns

Risks:

• High Dependence on Copper Prices and Volatile Raw Material Costs- Copper is the primary raw material for Vidya Wires’ product portfolio. The company remains exposed to fluctuations in copper prices driven by global supply-demand imbalances, geopolitical tensions, and LME price volatility. Despite backward integration, 60–65% of copper rod requirements still depend on external sourcing. Volatility in copper prices can impact working capital requirements, procurement planning, and gross margin stability. Although the company operates on a cost-plus or formula-based pricing model with some customers, sharp fluctuations may not be fully passed through immediately, affecting profitability and cash flows.
• Competitive Pressure from Larger, Diversified and Global Players- The winding wire and conductivity products industry includes large established peers such as Precision Wires India, Ram Ratna Wires, KSH International, and Apar Industries. These companies have larger installed capacities (up to 49,000–50,000 MTPA), broader product portfolios, and deeper customer relationships. Additionally, several competitors are also expanding aggressively, which may intensify pricing pressure. Any inability to match competitors’ technological upgrades, certifications, or supply-chain efficiencies may affect Vidya Wires’ ability to sustain margins, capture market share, and retain key customers in a competitive environment.
• Customer Industry Cyclicality and Global Export Exposure - Vidya Wires serves industries such as power, automotive, transformers, and consumer durables — all of which are sensitive to economic cycles. A slowdown in capex activity, consumer demand, or industrial production can reduce offtake from customers. Export markets expose the company to foreign exchange fluctuations, regulatory changes, and global demand volatility. Political or macroeconomic disruptions in key export destinations could impact order flows. While diversified, the company’s wide customer base does not eliminate sectoral cyclicality, which may lead to periods of lower utilisation and margin contraction.

Financial Snapshot:

Industry Comparison

IPO Allotment

Find out the allotment status for the Vidya Wires IPO by checking the MUFG Intime India IPO Application Status page.